Article by Robert Green, Business Advisor, Western Sydney Business Centre
Business Plans! They can be very daunting if you haven’t had experience with them in the past. Some businesses run a mile from the idea of a business plan because they believe it is not in them to produce copious quantities of paper covered with the latest buzzwords and cant see how they are going to produce a business plan to impress whomever reads them.
But simplicity is best it’s your tool not your master. You plan needs to accomplish a few things which shouldn’t be bypassed or overlooked. For instance, your vision, values and mission statements. These are the jumping off points on the road to a good business plan. For NDIS providers, they are very important and should encompass your compassion and care for working with persons with a disability. Remember the audit!
The rest of the business plan will flow out of these three things. But it will also attack some of the nitty-gritty targets and hurdles that all businesses deal with but are specific to your business. SWOT (no relation to the TV show) analysis for instance – Strengths, Weaknesses, Opportunities and Threats. It is good for you to spend a while in this area of the plan. Start from the bad side of the picture-your personal and business weaknesses and threats. Deal with them honestly. Now look for your strengths and opportunities as separate issues especially those that you can bring to bear on your weaknesses and threats.
Remember though, a business plan is a plan and sometimes they don’t work out. Rather than give up on the plan, look at it in the light of current circumstances and see if it remains a realistic plan.
For help with your business plan, call Bob Green at Western Sydney Business Centre or on 0490 251 615.